Poly Developments and Holdings Group Second Quarter 2024 Earnings: EPS Beats Expectations

Poly Developments and Holdings Group (SHSE:600048) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥89.5b (down 7.8% from 2Q 2023).
• Net income: CN¥5.20b (down 45% from 2Q 2023).
• Profit margin: 5.8% (down from 9.8% in 2Q 2023). The decrease in margin was driven by lower revenue.
• EPS: CN¥0.42 (down from CN¥0.78 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Poly Developments and Holdings Group EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 65%.

Looking ahead, revenue is expected to decline by 3.2% p.a. on average during the next 3 years, while revenues in the Real Estate industry in China are expected to grow by 4.1%.

Performance of the Chinese Real Estate industry.

The company's shares are down 3.0% from a week ago.

Risk Analysis

Before you take the next step you should know about the 3 warning signs for Poly Developments and Holdings Group (1 doesn't sit too well with us!) that we have uncovered.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.